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West Coast Paper Seeks Re-appointment of CMD S. K. Bangur and Independent Director
West Coast Paper Mills has initiated a postal ballot to seek shareholder approval for the re-appointment of Shri S. K. Bangur as Chairman and Managing Director for a five-year term effective May 1, 2026. The company is also seeking a second three-year term for Smt. Sudha Bhushan as a Non-Executive Independent Director. Notably, the CMD's remuneration proposal includes commissions that could exceed ₹5 crore, capped at 5% of net profits. The e-voting period for these special resolutions is set from March 9, 2026, to April 7, 2026.
Key Highlights
Proposed re-appointment of Shri S. K. Bangur (76 years old) as CMD for a 5-year term until April 30, 2031.
CMD remuneration proposed to exceed ₹5 crore, with a cap of 5% of the company's net profits.
Smt. Sudha Bhushan proposed for a second term of 3 years as Non-Executive Independent Director.
E-voting period scheduled from March 9, 2026, to April 7, 2026, with results to be announced within two working days of closure.
Cut-off date for determining shareholder voting eligibility was February 27, 2026.
💼 Action for Investors
Investors should evaluate the proposed remuneration structure for the CMD against company performance and ensure they participate in the e-voting process to voice their stance on leadership continuity.
West Coast Paper Q3 Consolidated PAT Surges 148% QoQ to ₹29.58 Cr
West Coast Paper Mills reported a mixed performance for Q3 FY26, with consolidated revenue growing marginally by 1% QoQ to ₹1049.78 crore. While consolidated PAT saw a significant jump of 148% QoQ to ₹29.58 crore, the standalone performance was notably weaker with a 59% QoQ drop in PAT to ₹18.61 crore. The management highlighted industry-wide challenges including rising paper imports and competitive pricing pressure which impacted realizations. Despite these headwinds, consolidated EBITDA margins improved by 200 basis points sequentially.
Key Highlights
Consolidated PAT increased by 148% QoQ to ₹29.58 crore from ₹11.91 crore in Q2FY26
Consolidated EBITDA grew 34% QoQ to ₹121.32 crore with margins improving to 3%
Standalone revenue declined 8% QoQ to ₹590.77 crore reflecting domestic pricing pressures
Standalone PAT fell sharply by 59% QoQ to ₹18.61 crore due to margin compression
Management cited rising imports as a primary factor impacting realizations across segments
💼 Action for Investors
Investors should monitor the divergence between consolidated and standalone performance and track the impact of cheap imports on domestic paper pricing. The stock remains a watch as the industry navigates a period of margin pressure despite stable core demand.
West Coast Paper Q3 Net Profit Plunges 68% to ₹18.6 Cr Amid Pricing Pressure
West Coast Paper Mills reported a weak set of results for Q3 FY26, with standalone net profit dropping 68% YoY to ₹18.61 crore. Revenue from operations declined 6.1% YoY to ₹590.77 crore, primarily due to pricing pressure from rising paper imports and a planned maintenance shutdown in November 2025. The Paper and Paper Board segment saw its profit before tax more than halve, while the Telecommunication Cables segment swung to a loss. Despite the poor earnings, the board has re-appointed S K Bangur as Chairman and Managing Director for a further five-year term.
Key Highlights
Standalone Net Profit fell 68% YoY to ₹18.61 crore from ₹58.22 crore in the previous year's quarter.
Revenue from operations decreased by 6.1% YoY to ₹590.77 crore compared to ₹629.14 crore.
Paper and Paper Board segment profit before tax dropped to ₹31.16 crore from ₹67.44 crore YoY.
Telecommunication Cables segment reported a loss of ₹4.85 crore versus a profit of ₹4.00 crore in Q3 FY25.
Management cited rising imports and a planned maintenance shutdown in Nov-25 as key reasons for the performance dip.
💼 Action for Investors
The significant drop in margins and profitability due to import-led pricing pressure is a major concern. Investors should remain cautious and monitor whether the company can pass on costs or if import pressures subside in the coming quarters.